Heritage Investment Group Inc. Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Heritage Investment Group Inc. lessened its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,245 shares of the iPhone maker’s stock after selling 316 shares during the period. Apple makes up approximately 1.0% of Heritage Investment Group Inc.’s portfolio, making the stock its 14th largest position. Heritage Investment Group Inc.’s holdings in Apple were worth $1,811,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Portfolio Partners LLC grew its position in Apple by 3.2% during the second quarter. Private Portfolio Partners LLC now owns 62,712 shares of the iPhone maker’s stock valued at $8,574,000 after buying an additional 1,960 shares during the period. Summit Wealth & Retirement Planning Inc. grew its position in Apple by 0.7% during the second quarter. Summit Wealth & Retirement Planning Inc. now owns 18,005 shares of the iPhone maker’s stock valued at $2,462,000 after buying an additional 129 shares during the period. Richard Bernstein Advisors LLC grew its position in Apple by 1.1% during the second quarter. Richard Bernstein Advisors LLC now owns 462,478 shares of the iPhone maker’s stock valued at $63,229,000 after buying an additional 4,894 shares during the period. Belpointe Asset Management LLC grew its position in Apple by 1.4% during the second quarter. Belpointe Asset Management LLC now owns 522,478 shares of the iPhone maker’s stock valued at $71,039,000 after buying an additional 7,152 shares during the period. Finally, Hills Bank & Trust Co grew its position in Apple by 1,755.8% during the second quarter. Hills Bank & Trust Co now owns 156,745 shares of the iPhone maker’s stock valued at $21,430,000 after buying an additional 148,299 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 360,651 shares of company stock valued at $53,703,645 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. DA Davidson dropped their price target on shares of Apple from $185.00 to $167.00 and set a “buy” rating on the stock in a research report on Friday, October 28th. Morgan Stanley dropped their target price on shares of Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $189.00 target price on shares of Apple in a research report on Tuesday, November 8th. Evercore ISI lifted their target price on shares of Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, September 20th. Finally, Citigroup reiterated a “buy” rating and issued a $175.00 target price on shares of Apple in a research report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.26.

Apple Price Performance

Apple stock opened at $151.29 on Friday. The company’s 50 day simple moving average is $147.08 and its 200-day simple moving average is $149.95. The company has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the previous year, the firm earned $1.24 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts expect that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date was Friday, November 4th. Apple’s payout ratio is currently 15.06%.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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